IEA: Record Stockpiles Seen

AUTHOR(S)

Investor's Business Daily

PUB. DATE

November 2015

SOURCE

Investors Business Daily;11/16/2015, pA01

SOURCE TYPE

Newspaper

DOC. TYPE

Article

ABSTRACT

8 The Int'l Energy Agency said a "massive cushion has inflated" a record 3 bil barrels in storage. A mild winter in the U.S. and Europe could add to the glut. U.S. oil production has been dropping, but output was strong in Asia and Russia. The IEA sees a steeper drop in U.S. shale oil output next year. Oil rig counts rose last week, the first gain in 11 weeks. U.S. crude lost 2.4% to $40.74 a barrel.